Italian Euro Group to invest €10m euro in plant construction in Russian SEZ

Italian company Euro Group S.p.A. plans to build a plant producing rotors and stators of electric motors in “Lipetsk” special economic zone located in Russia, a vice-president of the Association of Italian Entrepreneurs in Russia, Vittorio Torrembini, told Abireg on Thursday.

The plant construction is estimated at 10 million euro. According to Vittorio Torrembini, the project is still at the development stage, and the design is expected to be completed this year. Roughly in 2018, the construction of the enterprise is scheduled to be launched.

Earlier it was reported that investors were going to invest a total of at least 40 million euro in the plants located on “Lipetsk” SEZ territory. The matter concerns Italian firms Group alla and Immergas, which are engaged in production of equipment for utilities.

As a reference, Euro Group S.p.A. is an Italian industrial holding, which unites manufacturers of electric motors and generators. According to the company’s data, its turnover amounts to 178 million euro.